That was quicker than I thought, it was just 2 weeks ago that they had halted foreclosures due to the Robo Signing scandal. Bank of America has resubmitted affidavits in 102,000 foreclosures in 23 states. This would allow them to resume foreclosures in those states.

They plan on resuming foreclosures in the remaining 27 states as soon as it completes the review of the foreclosure process in each one of those states. According to a bank spokesperson the basis for the foeclosure decisions was accurate, meaning the people they are foreclosing on are behind on their payments and should be foreclosed on.

Bank of America is just one of 6 loan servicers that have been under scrutiny for allowing employees to sign off on affidavits without reading them. BOA and GMAC expanded their reviews also to non judicial states and bank of America halted foreclosure sales in all 50 states just 2 weeks ago.

 When it is all said and done BOA expects that only 30,000 foreclosures will have been delayed from all this, a non event.

Posted by David Hughes on


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I'm glad they finally resumed it. One down, 5 to go...

"Bank of America is just one of 6 loan servicers that have been under scrutiny"

Thanks for the heads up..

Posted by Joe on Thursday, January 13th, 2011 at 3:07pm

Joe, hopefully these lenders will get their act together and get these loans out of the system so we can get back to selling homes, thanks, Dave

Posted by David Hughes on Thursday, January 13th, 2011 at 3:50pm

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